Banking News

The prospect of record low savings rates continuing is forcing many savers to review how they allocate their capital in an attempt to achieve the level of returns they have previously enjoyed. Investing in the stock market inevitably involves putting your capital at risk however there is a middle ground which continues to attract increasing interest – the structured deposit. With this in mind, we take a deeper look at this savings alternative to help understand why more and more savers are starting to see their appeal. more

With the current economic environment asking savers far more questions than it gives answers, it is good to know that there are alternatives available. We take a look at one such alternative that is proving particularly popular as savers face the harsh reality that the more traditional fixed rate savings products are failing to meet their needs. more

Millions of savers are facing the harsh realisty that there is little hope of change to interest and savings rates in the coming years. However, those with Cash ISAs do have one further option to consider – the ISA transfer. We take a closer look at why this is becoming a rising trend as well as what this could mean for those looking for the potential to improve the returns from their capital. more

With so many savers joining income investors in the hunt for high yields, being able to quickly understand and compare the numerous options available has become even more important. We therefore compare two of our most popular income investments to help understand what is driving their popularity and why they might meet your income needs. more

Banking for kids

20 May 2005

Young people are being urged to open their own bank accounts so as to ensure they do not miss out on key benefits.

Teenagers can be eligible to receive money for staying on in education after GCSE age - whether taking a vocational course or A-levels - but a new survey has found that many do not have bank accounts and are therefore unable to take advantage of the incentives.

A MORI poll found that 24 per cent of Britain's 16-year-olds do not have a bank or savings account, and so cannot gain access to the money that they could qualify for through the Educational Maintenance Allowance (EMA).

Therefore, children across the country are being encouraged to start banking and many financial institutions are gearing up for an influx of young people by offering a range of accounts aimed at the younger market.

Sixteen-year-olds in London are most likely to miss out, with 40 per cent of them not having bank accounts.